Following on from the last Autumn Statement announcement that the changes to allow companies liable to corporation tax to benefit from 100% capital allowances, on qualifying plant and machinery additions and at a rate of 50% first-year allowance for special rate asset additions (this policy known as full expensing) would be made permanent.
It has today been announced that draft legislation will be published in the coming weeks to consider a potential extension to the regime to allow assets used for leasing which had previously been excluded from the full expensing regime.
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